This is not just a promotion.
It’s a complete shift in mindset.
Most young lawyers assume it’s a function of years in the profession. It is not.
The First and Most Important Truth
Becoming an equity partner has nothing to do with your years of experience.
It has everything to do with whether you think and behave like a leader or a follower.
This requires harsh, honest introspection. If you’re serious about this transition, I am happy to speak one-on-one and discuss your path.
How We Evolve in the Profession
I often tell young lawyers that we grow through distinct phases:
-
As law students, we learn.
-
As interns, we observe.
-
As junior associates, we execute.
-
As senior associates, we take ownership.
-
As retained partners, we manage.
-
But as equity partners, we must lead, build, and sustain.
That final shift — from working in the firm to working for the firm — defines the journey.
Salaried Partner vs Equity Partner: A Mindset Snapshot
Here are a few key differences to reflect on:
-
Focus
-
Salaried Partner: “Am I delivering well on the matters assigned to me?”
-
Equity Partner: “How is the firm growing, and what am I doing to drive that growth?”
-
-
Responsibility
-
Salaried Partner: Manages teams and files.
-
Equity Partner: Builds practice areas, client relationships, and future leaders.
-
-
Time Horizon
-
Salaried Partner: Thinks in terms of months and billable hours.
-
Equity Partner: Thinks in terms of years, strategy, and legacy.
-
-
Ownership
-
Salaried Partner: Responsible for performance.
-
Equity Partner: Responsible for performance and direction.
-
Leadership is never “offered” as a reward for time served.
It is earned through mindset, behaviour, and consistent contribution.
Take a look at where you stand today. Reflect deeply.
Because the journey from salaried partner to equity partner doesn’t start with a title change — it starts with how you think, act, and show up every single day.